When I look at the ASX right now, I'm not trying to make bold calls or predict the next big move. I'm simply asking a straightforward question: are there high-quality shares I'd still feel good about buying at today's prices?
My answer is yes for the three ASX shares in this article, but for different reasons.
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BHP Group Ltd (ASX: BHP)
BHP is the kind of stock I would own when I want exposure to resources and strong cash flow generation.
The near-term outlook for iron ore and other bulk commodities can move around, but BHP's portfolio is increasingly about copper. That matters. Copper demand is being driven by electrification, renewable energy, data centres, and electric vehicles. Those trends are structural, not cyclical.
On top of that, BHP's balance sheet is strong and its capital discipline has improved materially over the past decade. Even in softer commodity environments, it has the capacity to generate free cash flow and return capital to shareholders.
For me, this is less about timing a commodity cycle and more about owning a global leader with assets that will be relevant for decades.
CSL Ltd (ASX: CSL)
CSL has been through a frustrating period, and that's why I'm more constructive now than I was a few years ago.
Slower plasma margin recovery, weaker influenza vaccine demand in the US, softer albumin sales in China, and the disappointment around CSL112 have all weighed on sentiment. Add in regulatory and tariff setbacks and it's easy to see why investors lost patience.
But the core business remains intact. CSL still operates in an oligopolistic plasma market with very high barriers to entry. Demand for immunoglobulins continues to grow globally, and efficiency initiatives should gradually support margins over time.
Expectations are now far more realistic. I don't think CSL needs everything to go right to deliver acceptable returns from here.
DroneShield Ltd (ASX: DRO)
DroneShield is an ASX share that I think has a lot of promise.
Counter-drone technology has gone from niche to essential. Military conflict, critical infrastructure protection, and public safety concerns are driving global demand for detection and mitigation systems. DroneShield operates right in the middle of that shift.
The company's sales pipeline can be lumpy and contract timing will always create volatility. But its addressable market is large, defence budgets are rising, and its technology is already proven in the field. SaaS revenue and software upgrades also add a higher-margin layer to the story over time.
I wouldn't expect a smooth ride, but I think the long-term opportunity is being underestimated.
Foolish takeaway
BHP offers strength and cash flow, CSL offers recovery potential, and DroneShield offers long-term growth. For me, that combination makes all three worth buying right now, as long as you're investing with a long-term mindset.
